DESPITE purse strings tightening in the current financial climate, philanthropy experts believe that their industry is flourishing.

Following research into philanthropy, UK company Scorpio Partnership has found that there is a call from wealthy individuals for a service that provides advice on where and how to give their money. And, according to a business that already offers that advice, there is opportunity for Jersey to ‘be at the forefront’ of this service.

Martin Brookes, the chief executive of New Philanthropy Capital, a company that provides independent advice on giving, spoke at a recent breakfast briefing at the Radisson SAS on Tuesday organised by Investec Trust.
Private client

He said that there was potential to develop philanthropy as part of the private client service offered in Jersey.
‘There is opportunity for Jersey to be at the forefront of this shift towards philanthropy being part of the suite of services offered to clients,’ he said. ‘I would like to see firms in Jersey working together and in competition to develop a market for philanthropy advice and to be bringing that into the mainstream of what they offer clients so it is not an add-on but part of what they offer.’